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Post by michiganjoe on Apr 15, 2024 8:35:31 GMT -5
Here's what's behind the move this morning: Link
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up2
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Posts: 1,867
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Post by up2 on Apr 15, 2024 8:46:44 GMT -5
Smells a lot like a maneuver to raise substantial amounts of cash for the company to continue to service the enormous debt load and buy time so the significant holders on a time restriction (Trump et al) ride out the time period before making major major moves likely to be a dump. Getting 30% of what the IPO value is still better than 0% which is the direction it's heading without such an infusion as this. I wonder if this offering will extend the period of holding for sale on the insiders. May have to plunk down their filing for public offering docs. And there's supposed to be a 90 day quiet period where the current board cannot hype the stock through normal channels.
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Post by michiganjoe on Apr 15, 2024 9:12:29 GMT -5
Smells a lot like a maneuver to raise substantial amounts of cash for the company..... Exactly what it is.
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Post by michiganjoe on Apr 15, 2024 9:21:05 GMT -5
Easy marks for the con man (article is really quite sad).
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up2
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Posts: 1,867
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Post by up2 on Apr 15, 2024 9:22:40 GMT -5
Smells a lot like a maneuver to raise substantial amounts of cash for the company..... Exactly what it is. There used to be a time where the SEC by forcing a lot of disclosure on Public Offerings to be read and interpreted by sophisticated investors, brokers, and market makers that put guardrails on the system in order to protect the little guy. But today with online accounts to trade right from the convenience of your home computer or smartphone, along with the herd mentality caused by (perhaps created deliberately by) bulletin board tips and less-than-accurate articles touting a company by so many various media outlets, the SEC proxies seem quaintly outdated. I'll bet the vast majority of folks buying up the new shares will not have bothered to read all the risk factors, MDA of the market, and other meaningful data like significant shareholders and any restrictions on their ability to sell will largely go unnoticed, probably because their Yahoo feed (customized by their clicks and views) is pumping up the stock hoping for a speculative buying frenzy.
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Post by ivanbalt on Apr 15, 2024 11:50:57 GMT -5
Even ignoring the obvious grift, this should have been a hard pass. How successful could Truth Social really be? Started as a social media alternative to twitter after Trump got kicked off. Despite marketing as otherwise, essentially a right-wing echo chamber. Do any of the big right-wing personalities use it besides Trump? Seems like they're all on twitter along with everyone else. If twitter can barely make money, how's this niche product going to succeed in an over saturated product space?
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Post by zenwalk on Apr 15, 2024 15:04:57 GMT -5
trump pump n dump gone terribly wrong. Attachments:
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Post by Evil Yoda on Apr 15, 2024 19:03:45 GMT -5
On social media sites the person banging away on the keyboard is the product and the advertiser is the customer. If key men have an agenda it will spoil the product (by alienating potential users) and make the customer nervous, as well as providing a poorer selection of product to him. Musk demonstrated this with X and Trump failed to pick up on it. Truth Social was incredibly unlikely to succeed. Which is why I suspect the IPO is written in such a way that Trump gets paid without regard to the success or failure of the business.
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Post by zenwalk on Apr 16, 2024 19:58:32 GMT -5
Down more than 70%. Thoughts and prayers. Investors in Trump Media & Technology Group’s stock are throwing in the towel. Shares of TMTG (DJT) tumbled 14% Tuesday after closing 18% lower Monday. Driving the stock lower Tuesday: The company’s premier product, Truth Social, announced a major expansion into streaming, a notoriously cost-intensive business in which media behemoths like Disney have struggled to turn a profit. TMTG’s stock, majority-owned by former President Donald Trump, is down more than 70% from the all-time high it set on March 26, the day after it merged with a blank-check acquisition company to go public. Although the company is still worth billions of dollars, it is struggling to make money and desperate for cash. Experts have warned investors to be careful if they choose to trade the stock, because the company doesn’t have the fundamentals to back up its sky-high valuation. Investors in Trump Media & Technology Group’s stock are throwing in the towel. Shares of TMTG (DJT) tumbled 14% Tuesday after closing 18% lower Monday. Driving the stock lower Tuesday: The company’s premier product, Truth Social, announced a major expansion into streaming, a notoriously cost-intensive business in which media behemoths like Disney have struggled to turn a profit. TMTG’s stock, majority-owned by former President Donald Trump, is down more than 70% from the all-time high it set on March 26, the day after it merged with a blank-check acquisition company to go public. Although the company is still worth billions of dollars, it is struggling to make money and desperate for cash. Experts have warned investors to be careful if they choose to trade the stock, because the company doesn’t have the fundamentals to back up its sky-high valuation. www.cnn.com/2024/04/16/investing/trump-stock-djt-truth-social-streaming/index.html
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Post by Evil Yoda on Apr 17, 2024 10:04:46 GMT -5
It was always a short con. Individual investors will take a haircut as the fear sets in. A few wiser heads may earn a little, but I doubt it.
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Post by ivanbalt on Apr 17, 2024 10:16:32 GMT -5
Gotta to laugh at the pivot to streaming. Disney is struggling to make money with Disney, Star Wars and Marvel products, but I'm sure some obscure right-wing programming will bring in the bucks.
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Post by michiganjoe on Apr 20, 2024 9:12:12 GMT -5
Never underestimate the stupidity of the MAGA members.
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Post by pickle20 on Apr 20, 2024 10:04:08 GMT -5
The MAGA excuse for their own incompetence: Blame Democrats.
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Post by zenwalk on Apr 20, 2024 11:48:30 GMT -5
Never underestimate the stupidity of the MAGA members. What a miserable gopher-faced liar. This is why "woke" is the enemy of the base. It's far easier to fleece the credulously gullible.
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Post by Evil Yoda on Apr 20, 2024 15:39:30 GMT -5
Never underestimate the stupidity of the MAGA members. The next thing that needs to happen is one of those law firms that goes after companies when they tank. They try to recover money on the basis of often flimsy reasoning on behalf of a carefully groomed lead plaintiff. That individual and firm make a lot and everyone else gets $0.32 or so. But the company has to pay all that! Which means Trump can't collect it!
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Post by msmaggie on Apr 20, 2024 15:42:47 GMT -5
Never underestimate the stupidity of the MAGA members. What a miserable gopher-faced liar. This is why "woke" is the enemy of the base. It's far easier to fleece the credulously gullible. Wait. Ol' Nevin involved in a shaky get rich quick scheme??? The hell you say!!
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Post by michiganjoe on Apr 22, 2024 6:15:30 GMT -5
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Post by msmaggie on Apr 22, 2024 8:41:36 GMT -5
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Post by michiganjoe on May 3, 2024 10:14:13 GMT -5
When it rains, it pours.
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Post by alienrace on May 3, 2024 12:23:50 GMT -5
Interesting. And by that I mean that the article singles out Truth Social because of its connection to Trump, when in fact Borgers has well over 1500 clients it serves. Stuff like this is what give credence to those who claim the left has "TDS". I don't point stuff out like this because I support Trump. On this site I tend to push back on the left because they mostly dominate this board in numbers, and frequency of posting. I'm pretty much the polar opposite when around my right-wing family in how I push back on the stuff they say that is outlandish.
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Post by michiganjoe on May 3, 2024 12:35:27 GMT -5
Piece points out its significant client base.
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Post by alienrace on May 3, 2024 12:43:16 GMT -5
Piece points out its significant client base. So? Headlines are the example I speak of.
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Post by michiganjoe on May 3, 2024 12:45:16 GMT -5
Headline just reflects its most prominent client.
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Post by alienrace on May 3, 2024 12:48:01 GMT -5
Headline just reflects its most prominent client. LOL, sure
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Post by michiganjoe on May 3, 2024 12:52:49 GMT -5
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Post by alienrace on May 3, 2024 12:59:31 GMT -5
Yeah, lol, again, the headline makes it sound like this auditor is owned by Trump Media. C'mon man
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Post by Evil Yoda on May 3, 2024 14:10:16 GMT -5
Yeah, lol, again, the headline makes it sound like this auditor is owned by Trump Media. C'mon man It's not well written because of that ambiguity, but it's not incorrect. Better would have been "SEC charges auditor of Trump Media with massive fraud, imposes ban" or something. That they audit Trump's firm is probably relevant, if he chose them anticipating dishonesty. Which, let's be honest, would be a thing he'd do. He's basically a dishonest man. Often it is an open secret what kind of business a company is.
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Post by msmaggie on May 5, 2024 6:39:16 GMT -5
Yeah, lol, again, the headline makes it sound like this auditor is owned by Trump Media. C'mon man It sensationalizes the story by linking it to TM to be sure. Pretty sure most people realize Trump Media is not in the public auditing business. That aside, this Borgers character has got a pair on him. Good grief!
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